chPaoFor interactive, step-by-step help in solving the following problem,visitLaunchPad by using the URL on the back cover of this book.13. а,The accompanying table shows gross domesticproduct (GDP), disposable income (YD), con-sumer spending (C), and planned investmentspending (Iplanned) in an economy. Assume there isno government or foreign sector in this economy.Complete the table by calculating planned aggre-gate spending (AEplanned) and unplanned inven-tory investment (IUnplanned).GDPYDCIPlanned AEPlanned lunplanned(billions of dollars)$0$0 $100$3004004004003008008007003001,200 1,200 1,0003001,600 1,600 1,3003002,000 2,000 1,6003002,400 2,400 1,9003002,800 2,800 2,2003003,200 3,200 2,500300?b. What is the aggregate consumption function?c. What is Y*, income-expenditure equilibrium GDP?d. What is the value of the multiplier?e. If planned investment spending falls to $200 billion,what will be the new Y*?

I am assuming that the circled one is the part i need to answer.

Answered: 13. a, The accompanying table shows…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Use the following table to answer this question The components of GDP in the accompanying table were produced by the Bureau of Economic Analysis. Consumer spending Durable goods Nondurable goods Services Investment spending Fixed investment spending Nonresidential Structures Equipment and software Residential Change in private inventories Net exports Exports Imports Government purchases of goods and services Federal Category National defense Nondefense State and local What is the value of l? O A. $9,710.2B. O B. $2,130.4B. O C. $2,674.8B. O D. $5,794.4B Components of GDP in 2020 (billions of dollars) $1,082.80 2,833.00 5,794.40 2,134.00 1,503.80 480.3 1,023.50 630.2 -3.6 1,662.40 2,370.20 979.3 662.2 317.1 1.695.50
The table given below reports the value of different economic variables of a country during a year.Table 5.4 GNP Data(Adjusted for net factor income from abroad) Net Investment $400 Capital Consumption Allowance $800 Indirect Business Taxes $600 U.S. Exports $200 U.S. Imports $300 Government Purchases $150 Consumption Spending $2,030 Refer to Table 5.4. What will be the value of gross investment? Group of answer choices $1,000 $1,200 $400 $1,800 Indeterminate
In 2022, Tom spent $70,000 renovating his house. In the same year, he sold his house to a couple from Bacchus Marsh for $850,000. As part of the sale, Tom paid $17,000 for real estate agent fee, $8,000 for advertising fee and $95,000 for capital gain tax. Considering all of the above numbers, how much would GDP in 2022 increase by? A) $850,000, which is how much Tom sold the house for B) $95,000 C) $190,000 D) $0, GDP would be unchanged because the sale of this already established house is considered the sale of a second-hand good.
se the information in the table to answer the following questions All numbers are in billions of 2012 dollars Real GDP (Y) $10,000 $11,000 $12,000 Consumption (C) $8.500 $0,300 $10,100 $10,000 $11.700 Planned Investment (1) $1,000 $1,000 $1,000 $13,000 $14,000 The equilibrium level of GDP is $ 12000 billion. The MPC is 0.8 (enter your response to two decimal places) Suppose that not exports increase by $200 billion. Using the multiplier formula, determine the new level of GDP A $200 billion increase in net exports leads to a change in spending of spillon, so the new level of GDP will be $billion $1,000 $1,000 Government Purchases (G) $1,400 $1,400 $1,400 $1,400 $1,400 Net Exports (NX) -$500 -$500 $500 -$500 -$500
Aaron Platter Well, that's the strange thing. I've got total GDP at $7,200, as I said, and consumption expenditure at $3,000. I've also got economic investment expenditure totaling $1,800 and government purchases of $1,450...
So far, we have learned to measure real GDP, but how do we end up with that real GDP? Of all of the different amountsof national income and price levels that might exist, how do we gravitate toward the one that gets measured each year asreal GDP?In short, it is the interaction of the buyers and producers of all output that determines both the national income (real GDP)and the price level. In other words, the intersection of aggregate demand (AD) and short-run aggregate supply (SRAS)determines the short-run equilibrium output and price level.Once we have a short-run equilibrium output, we can then compare it to the full employment output to figure out where inthe business cycle we are. If current real GDP is less than full employment output, an economy is in a recession. If currentreal GDP is higher than full employment output, an economy is experiencing a boom. If the current output is equal to thefull-employment output, then we say that the economy is in long-run equilibrium. The…
The following table shows the data for a hypothetical economy in a specific year. All figures are in billions of dollars. Category Billions of Dollars Personal consumption expenditures Purchases of stocks and bonds Net exports Government purchases $60 30 -10 30 Sales of secondhand items 8 Gross investment 25 Instructions: Enter your answer as a whole number. What is the country's GDP for the year? $ billion
d. What is the value of the multiplier? e. If planned investment spending falls to $200 billion, what will be the new Y*? f. If autonomous consumer spending rises to $200 bil- lion, what will be the new Y*?
Based on the following statistics, how much is consumption? Total spending | Investment Government spending $2.95 trillion Exports Imports S11.62 trillion $2.56 trillion S1.80 trillion $2.18 trillion $6.49 trillion -$0.38 trillion $11.62 trillion $5.13 trillion
Suppose the current GDP is $11.3 trillion. Assuming that consumption is $6.7 trillion, investment is $2.1 trillion, exports are$1.8 trillion, and imports are $1.4 trillion, government purchases are $___ trillion. If GDP measured in billions of current dollars is $5,465, consumption is $3,657, investment is $741, and net exports are -$1,910, then government purchases are:
Table 11-6 Government Real GDP Consumption Investment Purchases 1 Net Exports $1,000 $1,000 $100 $150 -$50 2 3 2,000 1,900 100 150 -50 3,000 2,800 100 150 -50 4 4,000 3,700 100 150 -50 Using the table above, answer the following question. The numbers in the table are in billions of dollars. 13) Refer to Table 11-6. What is the value of MPC? A) 0.2 B) 0.5 C) 0.75 D0.9 E) None of the above

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